Posted on: 27th Oct, 2009 03:27 am
MY MOTHER RECENTLY PASSED AWAY HAVING LEFT NO WILL. LESS THAN A YEAR AGO SHE ENTERED INTO REVERSE MORTGAGE WITH BANK OF AMERICA WHICH HAS A BALANCE OF $38K. I AM ONE OF FIVE CHILDREN AND SHE WAS DIVORCED. I WANT TO PAY OFF THE MORTGAGE AND KEEP HER HOUSE.(NONE OF MY SIBLINGS OBJECT) B.O.A. TOLD ME THAT ONLY THE EXECUTOR OF THE ESTATE COULD "SELL" THE HOUSE TO ME. OBVIOUSLY, WITH NO WILL THERE IS NO EXECUTOR, RIGHT? CAN ANYBODY HELP ME OUT HERE? I'M TOTALLY LOST!
THANKS - CODY
THANKS - CODY
Hi CODYTX!
Welcome to forums!
As there's no will, you will have to file an affidavit of heirship at the county recorder's office. This will help you transfer the property in your name. Once you do so, then you can refinance the reverse mortgage in your name.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As there's no will, you will have to file an affidavit of heirship at the county recorder's office. This will help you transfer the property in your name. Once you do so, then you can refinance the reverse mortgage in your name.
Feel free to ask if you've further queries.
Sussane